April Graphic Arts Employment—Print Production Up from March, Non-Production Down Slightly (whattheythink.com)

Modern Litho, a publication and commercial printer and mailer headquartered in Jefferson City, Missouri, with production facilities in St. Louis and Kansas City, announces the ownership group has wholly sold the company to two of the existing shareholders, Jeff and Jenny Davidson as of December 31, 2022. The event marks the successful transition of the mostly family-owned company to the third generation as part of its planned ownership succession. “On behalf of the outgoing ownership group, it has been our highest honor and privilege to steward the company (Modern Litho) with a firm long-term vision. We’ve made decisions large and small based on what’s best for the business, our employees, and our customers. It’s this conviction combined with truly exceptional employees, industry partners and vendors that have made Modern Litho the world-class print organization it is today. Jeff and Jenny Davidson having been part of the ownership for the last five years, will continue with the same goal and vision. We couldn’t be more proud and excited for the future of Modern Litho,” commented Darrell Moore, CEO.

*GAAP net sales decreased 15.9%; non-GAAP organic net sales decreased 12.1% *GAAP income from operations was down $55.1 million versus the prior year primarily due to a $56.5 million increase in restructuring and other charges; current quarter included a charge for MEPP withdrawal obligations related to the LSC Communications (“LSC”) bankruptcy *GAAP loss per share from continuing operations of $0.13 included third quarter charges of $0.52 per share for restructuring and other *Operating cash flow, including discontinued operations, increased $40.1 million from prior year period, year-to-date improvement now at $113.0 million *Entered into definitive agreement to sell its Logistics DLS Worldwide business for $225 million, expected to close by year end *Launched plan to redeem $83.3 million of principal outstanding on Senior Notes due March 15, 2021

It’s the end of an era for publication gravure printing in the UK with news that the last remaining exponent – Prinovis in Liverpool – is to close. The news, which had been the subject of increasing industry speculation since Prinovis lost the DMG Media contract just over a year ago, was confirmed this afternoon (7 November). Prinovis said the decline in the gravure market since 2019 had rendered the business unsustainable, despite support from parent company Bertelsmann and some new customer wins in recent months, including TV Choice for Bauer.